1、 Price data
According to the price monitoring of the business agency, the market price of refined oil fell in February. At the end of the month, the price of gasoline was 6154 yuan / ton, 8.02% lower than 6691 yuan / ton at the beginning of the month. At the end of the month, the price of diesel was 6056 yuan / ton, 1.75% lower than 6164 yuan / ton at the beginning of the month.
| PVA 1799 (PVA BF17) |
2、 Analysis of influencing factors
Product: affected by the Chinese epidemic situation in February, the demand of refined oil market dropped precipitously. In the late ten days, with the increase of enterprises returning to work, the refined oil market rebounded slightly, but the overall refined oil market was in a downward trend.
Industry chain: affected by the epidemic situation in China at the beginning of this month, domestic refineries reduced their operating rates, and domestic crude oil market demand fell sharply. Three major institutions, OPEC, EIA and IEA, simultaneously reduced the growth rate of global crude oil demand this year. In the late ten days, the new crown epidemic in other regions of the world, such as the Middle East and Europe, had a trend of spreading. The spread of globalization worried the market about future economic development. The price of international crude oil market is declining.
| PVA FIBER |
Market: affected by the epidemic situation in China, the demand of domestic refined oil market dropped precipitously, and the market price kept decreasing in the first ten days of February. In terms of gasoline, due to the high inventory of refineries, the lack of large orders and other favorable factors in the market, as well as the delay in the resumption of work of various enterprises, the gasoline price continued to decline. In terms of diesel, although the increase in the operating rate of coal mines, warehouses and other enterprises has provided good results to some extent, the performance of the demand side has not met expectations, and the market trading has weakened again at the end of February. In February, the refined oil product was depressed by the demand side, and the market price kept falling.
3、 Future forecast
Lu Xingjun, an oil product analyst with business association, believes that the new crown epidemic has a trend of continuous spread abroad, which will depress the price of the international crude oil market. At the same time, domestic enterprises will return to work step by step. The market demand for oil products cannot reach the previous position in one step. It is expected that the market price of oil products will continue to run at a low level, or have a small rebound.
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